Summary
Author started dabbling in Bitcoin in late 2022, added exposure for 2023 and 2024, and recently publicly embraced Bitcoin after understanding its intrinsic value, security, and network workings. Believes in Bitcoin as a way to diversify out of a broken fiat system, appreciates its potential for global adoption, and sees it as a call option on the future of money. Acknowledges risks but views Bitcoin as a risk asset worth holding for ideological reasons. Sees potential for continued adoption, especially by super-rich nations, and values Bitcoin’s decentralized and peer-to-peer nature.
Key Points
1. The author initially started dabbling in buying Bitcoin in late 2022 and added Bitcoin exposure once again to their list of 24 stocks they are watching for 2024.
2. Understanding the cryptography and security of the Bitcoin network helped the author assign intrinsic value to Bitcoin, despite still preferring gold as a store of value due to its longer record.
3. The author acknowledges the risks associated with investing in Bitcoin, including regulatory changes, technological advancements, and potential price volatility, but remains ideologically aligned with Bitcoin’s goal of providing digital freedom and decentralized peer-to-peer transactions.